Welcome to Paul’s Picks, a weekly segment where Paul showcases some the best deals on the market here in the Peninsula. From single-family homes and condos to 2-4 units and large apartments complexes even vacant lots. Paul closely and constantly monitors a wide arrange of product types seeking out the market opportunity that you might not have thought about. If you would like to discuss a property in more detail or find out about other properties that may fit your needs better please give me a call at (650) 348-2020.
Paul’s Pick #1 – 737 Ruby Street – Redwood City [click here for more]
Alright, to start this week off, I’ve a 2-for-1 special for you guys at 737 Ruby Street and 538 Quartz Street in Redwood City. Both are small 2-bedroom 1-bathroom homes on large lots, so you got a lot of expansion potential here. Great if you’re a developer or a flipper of if you’re a first-time home buyer. And this is a strategy I’ve used for a lot of my first-time home buyer clients in the past; when they’re a young couple, all they need is a 2-bedroom 1-bathroom home. Of course, you’re gonna want eventually a 3-bedroom 2-bathroom or a 4-bedroom 2-bathroom home, but it’s all about getting to a great area, and then expanding upon the home years down the road, when your budget and your wallet allows for it. Out of the two, I like Ruby Street better mostly because I think it’s gonna trade for a better deal. Most buyer are gonna be attracted to Quartz Street because it’s North of Jefferson and has a larger lot, but both are great opportunities; you’re wallet’s gonna dictate which one to go for.
Paul’s Pick #2 – 380 Alberta Way – Hillsborough [click here for more]
For our second pick this week, I got a great value-add opportunity at 380 Alberta Way at Hillsborough. Absolutely love the privacy of this home; it’s quintessential Hillsborough. And the reason this is a pick is because this home has now entered it’s fourth week on the market, so we know that it’s overpriced. I don’t by much; I about $100,000 to $150,000 off. Anything below $2,750,000 I think is a steal. The reason this is stalling I believe is because of the topography of the lot. I think if you’re a developer, or if you’re a home buyer looking to knock down a home and build your dream home as many do in this area, and this not the home for you. But if you’re looking for single-level mid-century modern home, an easier project to add some square footage here and there, then this is a great deal. The key here is to add quickly, the market’s gonna wake up to it shortly, so be that first offer on the table, and start the negotiations now.
Paul’s Pick #3 – 533 Warren Road – San Mateo [click here for more]
For my final pick this week, I got 533 Warren Road in San Mateo’s most sought after neighborhood San Mateo Park. I just absolutely love the remodel of this 1920s Tudor home. It’s one of the examples of a home that’s been remodeled but restored. I love the finishes they chose, come with a lot of that old world charm but gives you all the modern day conveniences. Listed for just under 3.7, I think it’s priced for just about at value here. So the key here, don’t wait around for an offer date, be that first offer on the table, and get your dream home.